Quote:
Originally Posted by Ark2
The video that you posted said that banks have about $4 billion in their reserves and they have issued about $1.5 trillion in debt. What the video (and you) seem to be proposing is that Canada issue this money themselves. This would require that Canada print and circulate $1.5 trillion. If that were ever done, Canadian currency would become so devalued that you would be blowing your nose with it. The Germans tried to do the same thing after WWI and it crippled their economy.
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If you watch the rest of the movie there is an interview with a politician (forget his name) and they address the exact point you brought up.